30 year old story, oldest cartel in the world

Discussion in 'Politics' started by billwald, May 18, 2012.

  1. billwald

    billwald
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    http://www.theatlantic.com/magazine...ried-to-sell-a-diamond/4575/?single_page=true

    30 years ago this story predicted the diamond cartel would collapse but is still going strong. The old saw about telling a lie long enough and loud enough . . . apparently works equally for diamonds and religion?

    A diamond jewelry manufacturer near me claims that their product will appraise for twice the selling price. Doesn't this tell us more about the mark-up than the quality of the goods?
     
  2. targus

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    What lie is told about religion?

    It doesn't tell you anything. It's marketing fluff.

    If it really appraises for twice what you buy it for then you should be able to turn right around and sell it for nearly twice what you paid for.

    Do you believe that is the case?
     
  3. billwald

    billwald
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    The point of the story is that one only gets cents back on the dollar when selling diamond jewelry.
     
  4. targus

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    Again... What lie is told about religion?

    And please name one item that can be bought at retail and immediately resold without getting less than you paid for it.

    Why should diamonds be different?
     
  5. kyredneck

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    Very educational piece there Bill, thanks. The family names involved are interesting. Reminds me of the character 'Rabbi Goldpearlrubydiamondsilverstein'. :)
     
    #5 kyredneck, May 18, 2012
    Last edited by a moderator: May 18, 2012
  6. LadyEagle

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    Dump your Diamonds, Ladies!!

    We haven't bought diamonds in years, boycotting ever since we became aware of "blood diamonds" which helps to finance islamic terrorists. Besides, some of the laboratory diamonds and Swarovski crystals have more "bling."

    Moral of the story in the OP: Dump your diamonds now and get the cash you can get for them unless they are of sentimental value (like family heirlooms).

    I did that with gold last summer when the gold prices went up. Went through the jewelry boxes and took a bunch of stuff in, broken chains, etc. Got some ca$h and laughed all the way to Kohl's. :laugh:
     
  7. billwald

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    All religions can't be true thus some must be preaching falsehoods. For that matter, all Christian denominations can't be preaching 100% truth . . . .
     

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